Real Estate Research Process
The real estate data set, located on the student website, provided more than enough detailed information for Team C to identify an opportunity within the data. The opportunity lies in researching and identifying which township has houses available with the best amenities. The purpose of the real estate research is to provide valuable information to assist home buyers in making informed decisions.
This research opportunity is unique in that it is potentially applicable to everyone seeking a home. A total of five townships comprised the population for this study with every third house being selected at random for Team C’s sample. Within the sample, every township has six to eight houses where five various amenities in each house are evaluated (square footage, number of bedrooms, number of baths, and whether or not the house has a garage and pool). The average American family prefers a home with three to four bedrooms, at least two bathrooms, a garage and a pool (Buying a Home, n.d.). This fact will be the basis of our research and how we categorize each township’s amentity performance.
The importance of identifying which township has houses available with the best amenities, and of the overall research, is to assist potential home buyers by limiting their search to one township. Once completed, our research can be used as secondary data for all people looking to buy homes in these townships. In Team C’s sample, each township was accessed individually. Houses in each township were then categorized by specific, qualifying amenities. These qualifying amenities were reasonable determined by concluded what would be the most desirable or the best amenities to have within a home (see Figure 1).
When in search of purchasing home, the amenities that one person is looking for will differ from that of other prospective buyers. For example, a couple in there sixties might not be looking for a 3,500 square...